June 2010 Newsletter
80,000 Businesses To Experience Cashflow Issues
There is no doubt that businesses large and small are hurting right now across the country, some regions more than others. Recent data released by Dun & Bradstreet shows that the tough times could be far from over.
Thousands of Australian businesses are in worse shape today than they were at the height of the Global Financial Crisis according to the well regarded credit reporting agency.
Dun & Bradstreet has downgraded the risk profiles of almost 80,000 companies after watching their payment terms deteriorate in the first quarter of this year.
The downgrades make up approximately 15,000 more than D&B made a year ago. What this shows is that those businesses are more likely to experience financial difficulty over the coming 12 months.
"We have now downgraded more firms during what is considered to be a return to buoyant economic conditions, than we did during the worst financial crisis for 70 years," said D&B director of corporate affairs, Damian Karmelich.
Dun & Bradstreet as a group has 2.8 million businesses on its database already, each with scores against them that show that they are highly likely to experience financial distress over the next year and of paying their bills on time.
The industries he claims are most at risk are: Transport, Agriculture, Fishing, Communications, Mining, Construction
If you need a rapid injection of funds into your business to meet your commitments and rest easy at night, debt finance could very well be the solution. Ph: 1300 788 945.
(Source: Dun & Bradstreet & The Australian Newspaper)
Manufacturing Business Now Flush With Funds
A number of years ago, DG Ward & Sons, a family business, was subcontracting for another builder who went bankrupt, leaving them without employment. They turned to their accountant for advice.
"We decided to commence our own business from our residence," Fay says. DG Ward & Sons make aluminium-framed toilet partitions for commercial situations like schools, shopping centres, airports, sporting clubs etc.
"After 18 months of solid groundwork, setting up this business, with no income except money from a couple of family members fortnightly, we were drained financially. "We approached different institutions (up to six times a day for several weeks) without success. No one wanted to help!"
"When I said to my husband that we were going to Cashflow Finance in Brisbane for an appointment, his reaction was, 'I'm not going through this again. I am sick of being rejected.' However, they'd already told me there shouldn't be any problems, and they had the contracts all ready for us."
This could be you and is just one of many business success stories thanks to the helpful team at Cashflow Finance.
(Source: DG Ward & Sons - just one of the happy customers Cashflow Finance has done business with)
If you are experiencing tight cashflow at present like many businesses within Australia, don't hesitate to give one of our experienced and friendly representatives a call for a no obligation free consultation. We service all areas of Australia.
Cashflow Finance is also used by businesses throughout the country which need access to cash to assist them in expanding their business.
Give yourself the breathing space you need in tough times and contact Cashflow Finance today - you won't regret the call. Invoice today and get paid tomorrow!
Cashflow Finance has been financing Australian small businesses since 1985.
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